Thursday, 19 January 2012

Kodak files for bankruptcy protection

BBC reports

"Eastman Kodak, the company that invented the hand-held camera, has filed for bankruptcy protection.
The move gives the company time to reorganise itself without facing its creditors, and Kodak said that it would mean business as normal for customers.
The company has recently moved away from cameras to refocus on making printers to stem falling profits.
The 132-year-old firm has struggled to keep up with competitors who were quicker to adapt to the digital era."
It looks as though Kodak will fade away as technology moves on and the demand for film falls away.  I suspect Kodak will downsize to support the those few areas where there is still a demand for film. 


  1. It's a good move for the company in a way. Filing for bankruptcy will allow them to have a fresh start by eliminating unnecessary charge, as creditors will now stop bothering them.

    Jaden Allred

  2. “The company has recently moved away from cameras...” -- This still cracks me up even after a year. :D Kidding aside, being a pioneer in the camera industry, it is hard to believe that the company was going through financial hardships. From that, it sure took a lot for Kodak to finally admit their situation. I'm still not certain if this was a good move since it caused panic to its shareholders. Filing for bankruptcy isn't always the solution, you know.

  3. Well, it’s good that they thought ahead in protecting the company from bankruptcy. Although I don’t think making it public knowledge was a good idea. They could’ve just said that they were shifting their products from film to printers, and left that detail out. That, or continue developing cameras, only make the transition to digital instead of film.

    >> Allan